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Jenny EriksonJuly 2010 saw the slowest pace of new home sales since 1963. In the same month, Congress extended unemployment benefits for a fourth time, adding another $34 billion to the deficit to help out 2.5 non-working Americans.
The Associated Press says, "High unemployment, slow job growth, and tight credit have kept people from buying homes." In other words, a bad economy is scaring people away from purchasing new homes.
It doesn't take a rocket scientist to figure out what's wrong with our economy. It just takes a conservative.
When Mr. Obama went to Washington, he promised a lot of people a lot of things. He was going to pay their mortgages! He was going to pay their gas bills! He might as well have promised everyone a unicorn ride over a double rainbow and fat-free ice cream that actually tastes good.
The government doesn't work that way. The government can't take care of you; only other people can take care of you. The 99 weeks of unemployment Joe Schmoe is entitled to? Someone is paying that. Someone is paying for him to not work, instead of using that money to hire someone who will work.
Since the employer is busy paying someone to not work instead of paying someone to work, no goods or services are produced or rendered. No goods or services, no sales. No sales, no money. The employer goes out of business, and the few employees that were left working there are now out of work. But don't worry about them; they'll get unemployment checks from the government. To pay for them, Uncle Sam is going to raise taxes on the companies left standing. And then ... those companies might have to downsize to cover the costs on the new taxes. It's a vicious cycle.
New home sales are down because people are afraid to make such large purchases in times of economic uncertainty. We're living in economic uncertainty because no one knows what new mandate or regulation is going to pass into law next. The tax burden of these entitlement laws falls on employers, who pass it along to their employees and consumers in the form of layoffs and higher prices.
Free health care? Ninety-nine weeks of unemployment benefits?
Sure. At the expense of the American Dream: A decent job and a beautiful new home.
Comments (43)
I agree. This current administration is running the US economy into the ground. The woman in that video is a prime example of what's wrong with this country - too many people who want someone else to be responsible for their bills, all buying into some fairy tale told by an unqualified, ineffective and incapable leader. Where is that wonderful world he promised all his believers?
Well said.
You're right, it is a vicious cycle! I can tell you that the 99 weeks of UEC is a mixed blessing (?). While I did get the whole 99 weeks, it was hard, mentally, to take it. I mean, I needed the money, yes, but I would much preferred earning a paycheck like I used to. Getting UEC for that long just takes something out of you, makes you feel like you are less, somehow. And getting on PA is not that easy, and frankly, wasn't worth the humiliation for me. So I wasn't on PA, but I WAS getting UEC. These days, people don't see too much difference between the two. I am of the opinion that all these extensions send a message that they aren't interested in doing anything to bring jobs back, so just take the money and shhhh....... and if you take our money, we own you!
I am employed now, part-time. I got more from my UEC than I do working, which is not pleasant. But at least my feet hurt from working instead of from walking, looking for a job. The gas in my car is getting me to work, instead of me running all over town turning in and asking for applications. I am not better off financially for working but I sure do feel better having a job, and I am scraping and struggling to pay my bills each month, and yeah, part of those bills is my mortgage! I am doing whatever is necessary to keep my American Dream alive.
I agree its a vicious, vicious cycle. On the one hand, saving us from another Great Depression, unemployment benefits, on the other hand, my children and their children will be paying for this. We are currently in the age of entitlement. I find it terrifying that most of America thinks having your government handing everything out is a good thing. We no longer have to work for our American Dream, we just have to lobby for it!
Wait a minute---your logic doesn't make sense to me. You complain about the stimulus, which gave money to businesses and organizations to employ people so that they wouldn't need unemployment, yet "you complain about unemployment because: "Someone is paying for him to not work, instead of using that money to hire someone who will work." But, you don't want the government to use that money to hire people to work! You want the government to not tax businesses so they'll have more money to hire more workers. BUT, if people don't have money to spend, they aren't going to buy the products that those businesses produce, and businesses won't hire people to make more stuff that people aren't going to buy. That isn't good business. Many of the jobs that the government is able to hire people for---public works projects---have the advantage of employing people and infusing money into the economy through their paychecks without the disadvantage of using business capital to create products that people don't have money to buy.